Allbirds Trims Workforce in Cost-Cutting Move

To address these financial challenges, Allbirds has introduced “Simplification Initiatives” aimed at cutting costs and generating revenue.

These measures include slowing down the pace of new hires and replacements, reducing the global corporate workforce by 8% through layoffs, and transitioning to a hybrid work model by reducing corporate office space.

Additionally, the company plans to optimize inventory, automate distribution centers, and scale manufacturing to lower operating costs and product carbon footprints.

These initiatives are expected to generate annualized savings in selling, general, and administrative (SG&A) expenses of between $13 million and $15 million, starting in 2023. However, they will also incur non-recurring costs of between $18 million and $24 million…